Discontinuing the state property tax levies for the Kansas educational building fund and the state institutions building fund and providing for financing therefor from the state general fund.
Expanding and clarifying the property tax exemption for Strother field airport property, increasing the extent of exemption for residential property from the statewide school levy, discontinuing the state tax levies for the Kansas educational building fund and the state institutions building fund and providing financing therefor from the state general fund.
Providing for the distribution of local ad valorem tax reduction fund (LAVTRF) moneys from the state to residential property taxpayers in the form of rebates.
Authorizing a transfer of state general fund moneys to the local ad valorem tax reduction fund in fiscal year 2025 and all fiscal years thereafter, requiring political subdivisions to credit all such moneys to residential property taxpayers in the form of a rebate and providing a formula for such rebate amount.
Abolishing the local ad valorem tax reduction fund and the county and city revenue sharing fund, discontinuing certain transfers to the special city and county highway fund and decreasing rate of ad valorem tax imposed by a school district.
House Substitute for SB 37 by Committee on Financial Institutions and Pensions - Modifying income tax rates for individuals, exempting all social security benefits from Kansas income tax, increasing the Kansas standard deduction and the Kansas personal exemption, decreasing the privilege tax normal tax, establishing a 0% state rate for sales and use taxes for food and food ingredients on July 1, 2024, and modifying the percent credited to the state highway fund, increasing the extent of property tax exemption for residential property from the statewide school levy, decreasing the rate of ad valorem tax imposed by a school district, abolishing the local ad valorem tax reduction fund and the county and city revenue sharing fund and providing for certain transfers to the state school district finance fund.
Senate Substitute for HB 2036 by Committee on Assessment and Taxation - Modifying income tax rates for individuals, exempting all social security benefits from Kansas income tax, increasing the Kansas standard deduction and the Kansas personal exemption, decreasing the privilege tax normal tax, establishing a 0% state rate for sales and use taxes for food and food ingredients on July 1, 2024, and modifying the percent credited to the state highway fund, increasing the extent of property tax exemption for residential property from the statewide school levy, decreasing the rate of ad valorem tax imposed by a school district, abolishing the local ad valorem tax reduction fund and the county and city revenue sharing fund and providing for certain transfers to the state school district finance fund.
Modifying income tax rates for individuals, exempting all social security benefits from Kansas income tax, increasing the Kansas standard deduction and the Kansas personal exemption, increasing the income tax credit amount for household and dependent care expenses, decreasing the privilege tax normal tax, excluding internal revenue code section 1031 exchange transactions as indicators of fair market value for property tax valuation purposes, increasing the extent of property tax exemption for residential property from the statewide school levy, providing for certain transfers to the state school district finance fund and abolishing the local ad valorem tax reduction fund and the county and city revenue sharing fund.
Creating the fixing instant revenue shock for taxpayers fund and the local extraordinary needs fund, establishing the joint committee on local extraordinary needs grants and abolishing the local ad valorem tax reduction fund.
House Substitute for SB 300 by Committee on Taxation - Modifying income tax rates for individuals, increasing the standard deduction and the Kansas personal exemption, increasing the income limit for an income tax subtraction modification for social security income, increasing the extent of property tax exemption for residential property from the statewide school levy, decreasing the privilege tax normal tax rate, abolishing the local ad valorem tax reduction fund and the county and city revenue sharing fund, providing for certain transfers to the special city and county highway fund and decreasing the rate of ad valorem tax imposed by a school district.